Diamond Hill Capital Management Inc. Sells 25,277 Shares of GoDaddy Inc. (NYSE:GDDY)

Diamond Hill Capital Management Inc. trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 12.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 171,108 shares of the technology company's stock after selling 25,277 shares during the quarter. Diamond Hill Capital Management Inc. owned 0.12% of GoDaddy worth $30,823,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GDDY. Advisors Capital Management LLC increased its stake in GoDaddy by 0.9% during the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock worth $1,223,000 after acquiring an additional 55 shares during the last quarter. BNP Paribas boosted its holdings in shares of GoDaddy by 2.9% in the 4th quarter. BNP Paribas now owns 2,111 shares of the technology company's stock worth $417,000 after purchasing an additional 59 shares during the period. City Holding Co. increased its position in shares of GoDaddy by 30.0% during the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after purchasing an additional 60 shares during the last quarter. NorthCrest Asset Manangement LLC increased its position in shares of GoDaddy by 0.8% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock valued at $1,435,000 after purchasing an additional 67 shares during the last quarter. Finally, Rehmann Capital Advisory Group raised its holdings in GoDaddy by 4.1% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,793 shares of the technology company's stock valued at $344,000 after buying an additional 71 shares during the period. Institutional investors own 90.28% of the company's stock.

Insider Buying and Selling at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $175.96, for a total transaction of $175,960.00. Following the transaction, the chief operating officer directly owned 254,949 shares of the company's stock, valued at $44,860,826.04. This trade represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total transaction of $1,246,442.92. Following the completion of the transaction, the chief executive officer directly owned 431,015 shares of the company's stock, valued at $77,500,807.15. This trade represents a 1.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,757 shares of company stock worth $12,243,920. Company insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

GDDY has been the subject of several recent analyst reports. Barclays dropped their price objective on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Morgan Stanley dropped their price target on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Piper Sandler upped their price target on shares of GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Wall Street Zen lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. boosted their target price on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $214.86.

GoDaddy Trading Down 0.6%

Shares of NYSE GDDY traded down $1.01 during trading hours on Thursday, reaching $166.12. The stock had a trading volume of 1,964,736 shares, compared to its average volume of 1,305,281. The business's fifty day moving average price is $177.34 and its two-hundred day moving average price is $182.95. The firm has a market cap of $23.67 billion, a price-to-earnings ratio of 31.95 and a beta of 1.05. GoDaddy Inc. has a 52-week low of $140.11 and a 52-week high of $216.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the prior year, the business posted $2.76 EPS. The business's quarterly revenue was up 8.6% on a year-over-year basis. Analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

About GoDaddy

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.